Question: Based on past experience, the California Power Company forecasts that the mean residential electricity usage per household will be 700 kwh next January. In January

Based on past experience, the California Power Company forecasts that the mean residential electricity usage per household will be 700 kwh next January. In January the company selects a simple random sample of 50 households and computes a mean and standard deviation of 715 and 50, respectively. Test at the .05 significance level to determine whether California Power's forecast is reasonable. Calculate and interpret the p-value for the test.

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